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Markets

BOJ cuts asset purchases as Kuroda cools his bazooka

ETF and REIT purchases miss targets by 30% or more

The Bank of Japan headquarters in Tokyo: The central bank has ballooned into one of Japan's top shareholders. (Photo by Toshiki Sasazu)

TOKYO -- The Bank of Japan scaled back purchases of exchange-traded funds and real estate investment trusts in 2019, a year in which the Japanese stock market's robust performance eased the need for support.

The BOJ bought 4.38 trillion yen ($40.3 billion) of ETFs, roughly 30% short of the targeted 6 trillion yen or so. REIT purchases totaled 52.8 billion yen, about 40% below the target.

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